Tag Archives: Internal Revenue Service

How To Choose A Great Online Tax Preparer

When people look for online tax preparers, they need to consider various factors. Choosing the right tax software option is vital to maximizing a tax refund after all. Therefore, individuals must focus and search for their best tax preparation solution. Each person is going to require something slightly different from their online tax prep service.

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Safety Concerns

TurboTax 2013 from last year provided ample safety measures. Unfortunately, not all preparation services take safety seriously enough. The last thing a person wants to do is lose their personal information. Others have become victims of identity theft and lost their returns. The … Read more at 2008 Taxes.

Obamacare’s Impact On Taxes

Researchers have unveiled an ignorance on the part of the American public: a full 48 percent of people in the United States do not know that they must report their health insurance status on their 2014 federal income tax returns.

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The tax-filing season is soon on its way, and most Americans 18 and over do not realize that health care and income taxes are connected. This information was uncovered by an online Intuit TurboTax Health Survey which was conducted by the well-known Harris Poll group.

According to the Affordable Care Act, otherwise dubbed “Obamacare,” all Americans have to show that … Read more at 2008 Taxes.

H&R Block Backs Voluntary Tax Certification Program

H&R Block Inc. has taken the forefront to elevate industry standards in tax preparation by supporting a new voluntary certification program initiated by the Internal Revenue Service.

Tax preparers who voluntarily enroll in continuing education courses covering basic tax filings, tax updates, ethic of tax preparation and other related issues will now receive a record of completion noting their efforts. The purpose of the IRS program is to help taxpayers find qualified individuals to prepare tax returns and to help them avoid unethical practices. A study indicating that 42 million Americans have used a tax preparer with no credentials … Read more at 2008 Taxes.

The U.S. Corporate Tax Rate

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Is the U.S. Corporate Tax Rate the Highest in the World?

There is a popular belief that the current corporate tax rate in the country is very high, and a reduction of the prevailing rate will stimulate investments which will have a wide range of positive effects on the economy. Those who support this theory are referring to the current rate which stands at 39.1% (the highest in the industrialized world). According to proponents, this income tax rate is putting U.S. corporations at a competitive disadvantage. But is there more to the story?

Income Tax rates by Country based on OECD 2005...

Income Tax rates by Country based on

Read more at 2008 Taxes.

IRS Forms To File Back Taxes

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IRS Forms To File Back Taxes

Even if one is certain there are no mistakes in the forms when following federal tax procedures, a little shiver goes down a taxpayers spine at the very thought of a letter arriving from the IRS. The Internal Revenue Service blundered recently when the office sent penalty notices to business owners who had requested an extension in filing tax return Form 5500 to file back taxes. An error in programming caused the mistake regarding the required Form 5558, the Application for an Extension of Time to File Certain Employee Plan Returns, before … Read more at 2008 Taxes.

700 IRS Workers Owe Millions In Back Taxes

700 IRS Workers Owe Millions In Back Taxes

A report released Wednesday has revealed that nearly seven hundred IRS employees (about five percent of the ninety-thousand Internal Revenue Service contracted workers) owe a combined $5.4 million in back taxes.

The report says that it is the responsibility of the IRS to make sure contractors are current and do not need to file back taxes. Incidentally, most of these workers are not enrolled in payment plans, despite the fact that this should make them ineligible for employment by the IRS.

The IRS is the only federal agency that requires its … Read more at 2008 Taxes.